The latest market report published by Credence Research, Inc. “Gourmet Salts Market, By Type, Application and Region – Growth, Future Prospects, and Competitive Analysis, 2016 – 2023,” the Gourmet Salts market was valued at US$ 1,067.8 Mn in 2015, and is expected to reach US$ 1,787.0 Mn by 2023, expanding at a CAGR of 6.8% from 2016 to 2023.

Salts is a crystal-like mineral produced by combination of two elements which includes chlorine and sodium. Gourmet salts which has been derived from salts are refined in nature and has superior quality utilized in different cuisines to increase the taste, texture, flavor, and appearance and presentation of the food. Such type of salts possess high solubility and better mineral content. The gourmet salts are available in different tastes, color as well as flavor. Escalating demand for gourmet salts from food and beverage industries has showcased an upliftment over the past few years. The gourmet salts are very helpful in gripping the moisture content in the product. Besides this, gourmet salts are also mixed with other types of herbs, flavors and spices in order to increase the taste and color of spices. Bakery and confectionery manufacturers as well as poultry and sea food has showcased significant demand for gourmet salts and is likely to observe higher growth over the forecast period.

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Increasing commercialization in the food industry along with change in lifestyle of households has strengthened the demand for gourmet salts all across the globe. Apart this, awareness related to varied benefits of consuming gourmet salts through promotion via various media channels is likely to foster the growth of gourmet salts market between 2016 and 2026. The improvisation in making the cuisines by chefs in various hotels is also anticipated to fuel the gourmet salts market growth over the forecast period.

Considering the competition, this market is characterized by presence of various players some of which are small-scale players and some are the largest in number. In order to enhance their presence in the overall global market, the companies are focusing on research and development as well as new product development. The companies are entering into merger and acquisitions as well as joint ventures which will help in maintaining their dominance in the global gourmet salts market.

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